Inclusion, Technology Keep Remote Workers Up Close & Personal

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The business world has long had a love-hate relationship with flexible work arrangements. Nearly 80 percent of workers claim they want more access to flexible work options and would use them if there were no negative career consequences, according to a report compiled by the Georgetown University Law Center. 

Employees report that flexible work options — such as job sharing, part-time work, flex schedules, compressed work hours and telecommuting — improve their work-life balance. However, recent decisions by high-profile companies, such as Yahoo and Best Buy, to overhaul or eliminate their flexible work programs demonstrate that there is still much ambivalence about the effectiveness of flexible work options.

In this contentious climate, where there is often a gap between what employees want and employers need, small businesses are emerging as leaders in the flexible work movement. According to the 2014 National Study of Employers, which surveyed more than a 1,000 employers, small businesses allow employees more control over the hours they work. 

Investing in employees

The founders of Group PMX, a New York-based consulting company that specializes in project and construction management, have adopted such an approach. In fact, all of Group PMX’s business is conducted from remote locations. The company does not have a central office for its 20 employees. Its human resources manager works from home full-time, and all other employees are based on-site at clients' locations and move from project to project as needed. 

"There are many firms with large office spaces in midtown Manhattan and no one there because they are out where the clients are,” said Farid Cardozo, president and chief operating officer of Group PMX. By growing its employee base without being limited by physical boundaries, Group PMX is staying ahead of national trends. In fact, a recent study by the Sloan Center on Aging & Work at Boston College shows that workplace flexibility, though offered in some capacity by many companies, is still out of reach for most employees. 

By not being confined to the traditional office structure, Group PMX did not need to purchase, rent or renovate an office space. "We took the money saved from real estate and reinvested it in our employees in the form of a great benefits package," said Michael Giaramita, the company's CEO. As a result, Giaramita said, Group PMX is able to offer benefits that are on a par with those of much larger firms in its industry. Such benefits include competitive salaries, full health care, vision, dental, a 401(k) plan with a 4 percent company match and 17 paid days off. "Of course, all this is great for retention and recruitment, but it all started with being flexible," Cardozo added.

Fostering connectivity

Without a central office, Group PMX has looked for other ways to keep its people connected. All new employees meet with the HR manager prior to starting, and Cardozo and Giaramita travel to job sites regularly to meet with their employees as well as the clients. 

"We don't micromanage, but it's our job to be extremely approachable so people who don't see us every day can still feel comfortable telling us what is going on," Cardozo said. Cardozo and Giaramita recounted how when their part-time bookkeeper expressed an interest in full-time work, they were able to transition her into the role of human resources manager, which still provided her with the flexibility to work from home. 

The firm also hosts quarterly meetings, where all the employees come together to socialize, learn about new marketing initiatives and gain insight into the state of the firm and upcoming projects. 

"We also invite potential hires," Giaramita said. "This way, they can meet everyone and see if we are a good fit. Once they see the energy in the room, they are usually hooked."

Staying in control

One reason many companies have been resistant to adopting flexible work arrangements is that they're afraid of losing control over their work environment. Employers report worrying about the potential abuse of flexible working arrangements, a decrease in employee productivity and difficulty in managing people in remote locations. Giaramita and Cardozo, however, find that technology provides a more-than-adequate solution to these concerns.

"It is key to invest in IT if you are going to offer a significant level of workplace flexibility," Giaramita said. Group PMX provides all its employees with iPhones, state-of-the art laptops and iPads as needed. In addition to using email for daily communication, Group PMX makes use of Web tools such as Replicon, a cloud-based timesheet and expense management system; Egnyte, a file storage and management system that can access files for any project from any device, from anywhere in the world; and Evernote, a software designed for note-taking and archiving that helps manage the firm's marketing needs. These systems make it seamless to submit invoices and timesheets, get paid on time, and communicate with colleagues and clients.

Ultimately, the degree of flexibility that each company can provide is shaped by the unique nature of its business, but Cardozo and Giaramita believe that many of the strategies that have worked for them can be adapted to meet the needs of all sorts of workplaces. In their experience, establishing flexibility as part of the company culture and not just as an accommodation is key, as is investing in IT and prioritizing ongoing and open communication with employees and clients. Additionally, they've benefited from eliminating the need for a central office and have been able to reinvest the savings to benefit their employees. 

"With flexibility at our core, we've been able to excel at what we do and not miss a beat," Giaramita said.

What Your Workers Want ... It's More Than Money

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In order to attract and hold on to top employees, you're going to have to do more than just pay them well, research suggests.

While salary remains a key factor in attracting and retaining employees, so do career-advancement opportunities, job security, and trust and confidence in senior leaders, according to a new study from the professional services firm Towers Watson.

Employers, however, don't seem to be on the same page with those priorities. The research revealed that job security is the second most important reason employees join a company and the fourth most important reason they stay with one. Additionally, employees ranked trust and confidence in senior leadership as the third most important reason they stick with a company.

Despite these findings, employers did not rank any of these factors as key attraction and retention drivers.

Laura Sejen, managing director at Towers Watson, said the study shows a significant disconnect between employers and employees.

"With talent mobility on the rise, employers need to understand what employees value if they are to succeed in attracting and retaining employees," Sejen said in a statement. "While employers recognize the importance of pay and career advancement as key reasons employees choose to join and stay with a company, they don't place the same importance on another top attraction and retention driver — job security — or a key retention driver — trust and confidence in senior leadership."

Overall, the majority of employees surveyed think their companies can do a better job of holding on to and drawing interest from quality employees. Specifically, only 46 percent of the employees surveyed think their company does a good job of attracting and retaining the right workers, with just 42 percent saying their employer does a good job of retaining talented employees.

In addition to job security and trust in leadership, employers have to do a better job of giving their workers more opportunities to advance their careers, according to the study. More than 40 percent of employees who have been formally identified by their organization as having high potential said they would need to leave their organization to advance their careers.

Sejen said organizations are missing the mark when it comes to career development: Less than half of employers said they are effective at providing traditional career-advancement opportunities.

"Given how important career-advancement opportunities are to employees, the fact that so many employees, and especially high potentials, feel stuck should serve as a wake-up call to employers to review their career-development programs," Sejen said. "Employees will have more opportunities to seek employment elsewhere as hiring activity continues to increase, and employers will be on the lookout for high-potential and top-performing employees."

The study found that with hiring on the rise, it's becoming even more difficult to attract and retain employees. Nearly two-thirds of employers are having trouble attracting top performers and high-potential employees — an increase from two years ago.

The research was based on surveys of 1,637 companies globally, including 337 from the United States, as well as 32,000 employees worldwide, including 6,014 from the U.S.

Top 6 Chrome Browser Extensions for Business

You can download Chrome extensions directly from Google's Chrome Store. Credit: Google

Google's Chrome Web browser isn't just for surfing the Web. With the right extensions, Chrome can become a productivity hub that lets you manage many different aspects of your business. There are extensions that can help you take and view notes, meet remotely and even balance your books. But with such a big library in the Google Chrome Web Store, it's hard to know which are worth your time. Read on for six of the best Chrome browser extensions for work.

Smartsheet

Smartsheet is a powerful project-management app that you can use directly in your Chrome browser. The app has the look of a familiar spreadsheet, so it's fairly intuitive and easy to use. Context-sensitive columns let you access drop-down menus to change the assignment date, priority and completion status of any item with just a few clicks. You can add sub-assignments to any item, and then expand or collapse items to zero in on details or focus on the bigger picture. Smartsheet also lets you attach videos, contracts, documents and other files to assignments so you and your teammates have immediate access to them. Meanwhile, the ability to switch among a spreadsheet view, calendar and interactive timeline helps you see all your scheduled items at a glance.

Business Hangouts

Business Hangouts for Google Chrome takes the basic Hangouts app — a solid videoconferencing platform — and adds extra features specifically for business users. Those features include a registration tool to help you manage attendees for each meeting, plus an email system that lets you send out invitations, reminders and follow-up messages. When you set up a meeting, you're automatically prompted to invite contacts via email, SMS text message or social networking platforms. The other perk of using Business Hangouts over the standard Hangouts app is that it lets you create meeting rooms that anyone can join, even if they lack an account on the Google+ social networking website. Moreover, installing Business Hangouts as a Chrome App gives you the ability to create a new meeting with one click.

Wave Accounting

You don't need to install a desktop program to balance your small business's books. Wave Accounting is a solid finance application that runs right in your Chrome Web browser. You can enter expenses manually, or let the app automate the process by connecting it to your bank or credit card accounts. You can also create invoices using premade templates, add logos and brand colors, and send them to clients — right within your browser. Wave also lets you accept credit cards, so your customers can complete transactions online quickly and easily. As a bonus, the app can generate accounting reports, balance sheets and more to help you see your spending at a glance.

Evernote

Evernote is a robust note-taking app that's available on virtually every computing platform, as well as on the Chrome browser. Installing the app gives you one-click access to the Evernote Web portal, where you can view your existing notes and add new ones. It lets you type or dictate notes, snap photos, create to-do lists and more, and once an item is created, it's automatically synced across all your devices. It also features text identification, which can recognize printed or handwritten text, letting you track down specific notes later on using keywords. Evernote works well on a mobile device, but it's even more useful on your desktop computer, where you probably spend most of your workday.

Shoeboxed

Shoeboxed is a handy Chrome app that lets you keep recipes, bills and other financial documents organized just by snapping a photo of each item with your smartphone. Once a document is uploaded to the app, its text-recognition software automatically extracts important information, including vendor, date, total and payment type. Ultimately, Shoeboxed creates a full searchable digital database of your transactions right in your Web browser — and that could pay off in a big way when it's time to file your taxes. It's a great alternative to organizing documents by hand, which is laborious and time-consuming, and it eliminates the need to hire someone to manage your paper documents for you.

Chrome Remote Desktop

Instead of installing a dedicated remote desktop application, try the Chrome Remote Desktop extension in your Chrome browser. It lets you access your files and programs on your work PC from a mobile device, as long as your computer is turned on and the extension is running. Once setup is complete, you can view your Windows, Mac or Chromebook desktop right on the display of your smartphone or tablet, and open files just as you would on your desktop PC. You can even run full desktop programs, such as Photoshop or Microsoft Office, via Chrome Remote Desktop. If you want reliable access to your work computer from anywhere, the extension could really come in handy.

The Secret to Startup Success? Be Ready for Anything

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What's the secret to business success? Some might say it's having brilliant ideas; others may say it's having the right industry connections. But more often than not, the entrepreneurs and business leaders who rise to the top are the ones who are better prepared than their competition.

"We live in a world where we have so much access to information, and there's really no excuse [for not] being prepared," said Keith Wyche, author of "Good Is Not Enough" (Portfolio Trade, 2009) and co-author of "Corner Office Rules: The 10 Realities of Executive Life" (Kandelle Enterprises, 2013). "But so many people still don't take the time, so being prepared gives you a leg up."

One of the biggest advantages preparedness provides is the confidence to prove your expertise.

"When you've researched your industry, customer or client and done your homework, it allows you to talk in a completely confident way," Wyche told Business News Daily. "It shows that you're someone who's competent and has control of the facts."

For startup founders in particular, preparedness can also be the difference between getting rejected and getting what you need to launch and grow their business. Wyche noted that entrepreneurs who do their due diligence have an edge when it comes to securing loans, receiving investor funding and negotiating contracts.

Perhaps the most important thing preparedness can do for you is help you understand your own strengths and weaknesses. Wyche recommended performing a SWOT analysis for your business so you can get ready for any trends or changes that might impact your industry. Armed with this knowledge, you can surround yourself with people who complement your strengths and weaknesses to meet any potential obstacles ahead.

"Too often, we look at everything on a quarterly basis," he said. "I advise business professionals and entrepreneurs to look two years out. What might be happening [in your industry]? Had video and book stores done that, they might have seen the challenges of online [entertainment] coming."

Being prepared isn't all about looking months and years ahead, though. Prepping yourself beforehand for your day-to-day tasks can help meetings, conference calls and projects go much more smoothly, Wyche said.

"When you prepare your days in advance, you will find ways to be more efficient in your work," Wyche said. "Think through an agenda and anticipate questions, challenges and concerns. Once you've thought about things [your colleagues or clients] might say and objections you might get, think about how to overcome them. By preparing for objections, you're better able to come off as competent and impress your audience."

Making preparedness second nature to you is as simple as fueling your desire to learn.

"Be a continuous learner, and have intellectual curiosity," Wyche said. "Always ask why."

Google Hangouts Updates: Better Support for Small Businesses

The new update enables users to join Hangouts sessions from a variety of third-party services. Credit: Google

A slew of new features for Google Hangouts makes Google's Web conferencing platform better for small businesses. The updates include better tech support and greater access for users on other video conferencing platforms. Google is also working on enhancements for Chromebox for meetings, a hardware accessory that makes it easier to set up remote meetings. Read on for more details about the new version of Google Hangouts.

Better support

Google Hangouts is already a pretty reliable service, and Google is building on that with a new tech support guarantee. Hangouts is now covered under the same terms of service as other Google Apps for Business  such as Drive and Gmail, which means that Google pledges 24/7 phone support for the app. That's a big deal for small business users who depend on the service to help them do their job, and can't afford to lose time due to technical difficulties.

Better access

The new update enables users to join Hangouts sessions from a variety of third-party services. Google announced that new partnerships will allow users of the Blue Jeans and InterCall videoconferencing platforms to dial in. And for the first time, anyone with a Google Apps customer account can now join a Hangouts meeting, regardless of whether or not they have an account on the Google+ social networking platform.

New features for Chromebox for meetings

Chromebox for meetings is a portable device that makes it easier to project business meetings to users who are joining remotely. The package includes a Chromebox – a small computer that establishes the connection – as well as an HD camera, microphone, speaker and remote control. Google announced that new features are coming, including dual-monitor support for individuals joining a meeting remotely, so that participants can be shown on one screen and presentations on the other. Meanwhile, personal calendar integration makes it easier to set up times to meet via your Chromebox.

10 Work from Home Jobs For Moms

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Many people want a flexible job, but for moms, career flexibility is especially important. Amidst taking care of their kids, maintaining their home and more, moms already work full time long before they even step into an office. Working from home gives women the opportunity to work a job they love and still have time for their children. 

With today's technology, more and more businesses offer telecommuting jobs that allow employees to work remotely and on a schedule that works best for them. These jobs are perfect for moms who want to work but don't want to or can't spend eight or more hours in an office per day.

Here are 10 work-from-home jobs, both full time and part time, that are hiring now and perfect for busy moms.

1. Speech language pathologist (part time)

2. Case manager/care coordinator (part time)

3. Transcriptionist (full time and part time)

4. Insurance loss control inspector (part time)

5. High school physical education/health teacher (part time)

6. Digital marketing specialist (full time and part time)

7. Recruiting associate (full time and part time)

8. Bookkeeper (part time)

9. Graphic designer (part time)

10. Internal communications writer (full time and part time)

You can also search for additional mom-friendly telecommuting opportunities at FlexJobs.

Want to Improve Sales? Listen to Your Team

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No sales manager wants to hear that his or her team is losing sales. For some companies, customers jump ship — or don't give them a chance at all — because of a negative experience with an individual sales representative.

"The outcome of a bad in-person sales experience is more dramatic than just a delay in the sales cycle," said Pieterjan Bouten, co-founder and CEO of mobile sales presentation tool Showpad. In fact, according to a recent survey by Showpad and research firm Demand Metric, 70 percent of marketing and sales professionals said a bad sales call results in a loss of revenue, and 70 percent noted that it can take months, or even years, to recover from it, Bouten said.

But for many organizations, lost revenue doesn't just occur because of bad sales calls. Often, small inefficiencies in the sales process add up to a lot of wasted time and, by extension, wasted opportunities.

"Sales teams spend 30 to 50 percent of their time not selling," said Gary Ambrosino, CEO of appointment scheduling software TimeTrade. "They're calling, chasing and waiting, trying to get the customer to agree to an appointment. When you change this behavior and drive it down, sales go way up."

How can sales managers solve these issues that stand in the way of growth? Gathering customer feedback may seem like the obvious answer, but before you do, try seeking internal feedback from your team about where they're struggling.

"Managers should look at underperforming sales reps and inquire about the obstacles that are keeping them from being successful," Bouten said. "For example, is it training or the enablement material? Can they find the right material for each stage of the sales cycle? It's important that managers understand both the positive and negative patterns so they can provide critical feedback to marketing on content effectiveness and help salespeople orchestrate better conversations."

Another effective strategy for collecting useful feedback is to ask employees what tactics are helping them to succeed, said Michael Papay, CEO of employee feedback and engagement platform Waggl.

"Ask them for the single best thing they're doing relating to sales," Papay said. "Questions that ask for just one thing generate the best results. It's easy to act on those answers, and it's valuable and engaging to share them transparently [with the rest of the team]."

Once you've asked your team about their process and figured out what's working, there's one last question you need to ask yourself as a sales manager: What do you need to stop doing as an organization to free up more time for the tactics that actually work?

If, as Ambrosino said, your team is wasting a lot of time on nonselling activity, the best thing to do is eliminate that "dead time" of waiting around for the phone to ring.

"Sales teams confuse making 70 phone calls to prospective clients and leaving messages with selling," Ambrosino told Business News Daily. "That activity is not selling. Get prospects engaged in a productive conversation the first time you pick up the phone or meet them [by] finding out what the customer's problem is, and if your product or service can solve it."

Smallest Startups Rely On Personal Funding Sources

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Rather than using traditional loans to fund their businesses, the majority of small business owners dig into their own bank accounts to keep their companies afloat.

More than 60 percent of microbusiness owners rely on non-retirement, personal savings as the lead source of funding for their businesses, according to the Sam's Club/Gallup Microbusiness Tracker. Additionally, U.S. microbusinesses — defined as those with five or fewer employees — started in the past year are 30 percent more likely than mature companies to use the owners' personal savings to maintain the business.

Other popular sources of funding for microbusinesses include credit cards and money from family and friends. The research revealed, however, that less than 3 percent of U.S. microbusiness owners rely on government loans, small business loans or crowdfunding to support their businesses.

The study found that over the past year, 40 percent of microbusiness owners have had to dip into their personal or retirement savings in order to improve their businesses' bottom lines. That practice has given them significant anxiety over their golden years. Nearly 45 percent of those surveyed said they are worried about having enough money for retirement.

Surprisingly, the research shows that the more money microbusiness owners make, the more they worry. Nearly half of microbusiness owners generating at least $50,000 in revenue per year are anxious about saving for retirement, compared to just 42 percent of those making less than $10,000.

Despite their concerns over retirement, the majority of those surveyed are optimistic about the future. While more than half of owners predict the economy will worsen, 70 percent say they are energized by their work and six in 10 express confidence that they have the talent to grow their companies.

"Despite concerns over worsening economic conditions, U.S. microbusiness owners are confident in nearly every dimension of work and life," Rosalind Brewer, president and CEO of Sam's Club, said in a statement. "This vital segment of the U.S. economy is passionate about their choice to pursue a small business venture and unwavering in their commitment to serving consumers with an intense focus on quality no matter how many other factors or challenges they may face."

The quarterly study was based on surveys of 1,004 U.S. firms with five or fewer workers.

5 Surefire Ways to Get Your Passwords Stolen

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Keeping company data and employee information secure is more important than ever, experts say.

Joe Siegrist, CEO and founder of the password management provider LastPass, said that recent high-profile data breaches, such as Target, PF Changs, TJ Maxx and StubHub, should serve as a reminder to businesses that not keeping customer information protected can have grave consequences.

"Corporate systems are only as secure as their weakest passwords," Siegrist said. "Businesses stand to lose not only money, but also critical assets and customer trust."

Siegrist said there are several password mistakes employees should avoid:

• Not tracking passwords: As businesses use such a wide range of tools and services, it can become overwhelming to keep track of each one's username and password. Without a system in place to track each account and who has access to each one, employees usually end up interrupting a co-worker to see if he or she has the info, or calling the IT department to have them reset the password. It's critical that both the employees and company know the sites, tools and services with which they're registered, Siegrist said.
   
• Not properly storing passwords: Tracking systems —  through either a paper or digital tool, such as a password manager — isn't enough, Siegrist said. Writing down passwords on sticky notes and posting them on monitors, or jotting down a group password on a whiteboard for the office to see, is extremely dangerous, as these are invitations for someone to tamper with secure information, he noted. Even password managers aren't free of danger, as they often don't prompt users for a master password by default, which leaves stored passwords exposed and usable. To be as secure as possible, all passwords and accounts should be logged in one safe place that can be controlled and locked down, Siegrist said.
   
• Sharing passwords: While many companies might not think twice about having a team of employees share an account, it can cause immense problems if one (or more) of them were to leave. If a former employee has access to those accounts, there's a potential for damage to be done either to the brand or to customer data, Siegrist pointed out. Additionally, if information is leaked or customer data is compromised, it may be impossible to track who is responsible if the password has been shared among several employees.
   
• No personal and work separation: Reusing passwords can cause big problems. By using the same password on both a personal account and a work account, an "insignificant breach" to an online retailer could lead to a very significant breach of a work account, Siegrist said. Using a unique password for each site can be difficult, but it ultimately helps reduce the risk that work accounts will be compromised.
• Minimum requirements: The length and complexity — the combination of character types in random sequences — are the most important factors in creating secure passwords, according to Siegrist. Since most password requirements are tedious, employees are primarily concerned with just remembering them. In order to do so, they often default to the bare minimum required. Without tools to help employees create and remember stronger passwords, the minimum is usually all they can handle, Siegrist noted.
   

15 Things You Should Never Put in Your Cover Letter

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Applying for a new job? The perfect cover letter could mean the difference between hearing, "When can you start?" and falling victim to the Delete button.

We asked several hiring managers and business owners for the absolute worst thing a candidate can include in his or her cover letter. From small details like typos and using clichés to huge red flagslike lying or bad-mouthing your old boss, here are 15 things you should never put in your cover letter.

Stating what you're lacking

"I have seen one too many cover letters with the following phrase: 'Although I do not yet have…' If you do not have something, why are you emphasizing it? Write about what you do have that will be of interest to the potential employer. If you are looking for a job, then you are in the sales business. What you write in your cover letter should most effectively sell the skills, experience and abilities that you do have, as opposed to emphasizing those things that are lacking. Emphasizing a weakness on your cover letter may be costing you the job." – Lavie Margolin, consultant and career coach, Lion Cub Job Search

Writing the wrong company name

"Nothing will get your cover letter thrown in the recycling bin faster than giving the wrong company name. Carefully check your cover letter to make sure all the information is accurate, including the position you are applying for and the correct spelling of the hiring manager, if available." – Chaz Pitts Kyser, founder and author, Careeranista

Lying about your experience

"The worst thing is to exaggerate or provide false information." – Karin Hurt, CEO, Let's Grow Leaders   

Not proofreading

"Typos are one of the top mistakes job seekers make when it comes to cover letters. Spell-check is your friend. Use it, but don't rely on it. Print out your cover letter, read it from start to finish and make sure there aren't any typos before sending it out. Your cover letter is the first impression you make on a hiring manager — make sure it's a good one." – Joe Weinlick, vice president of marketing, Beyond

Explaining why you quit your last job

"The worst thing a potential employee can do is to explain why they left their current or former position. It's like starting out a first date by talking about your ex! I don't want to hear about your past; I want to hear about your now and future, and how you are going to become an asset to my company." – Kim Kaupe, founder, ZinePak

Providing unsolicited salary information

"Salary information, unless they are specifically asked to do so, particularly if there is a disparity between what is advertised or indicated in the ad they are responding to. No prospective employer wants to hire someone who is only about the money!" – Lisa Benson, staffing director, Mary Kraft Staffing & HR Solutions

Taking the wrong approach

"One of the most common mistakes that applicants make when writing their cover letters is to include statements along the lines of 'I believe I would be a good fit for this job…' Recruiters and hiring managers don't really care what the candidates believe about their qualifications; they will assess the qualifications themselves. Instead, applicants should include something like, 'I offer the following qualifications for your consideration.' Then, they should list the qualifications relevant to the position for which they are applying." – Caroline McClure, principal, ScoutRock

Focusing on yourself

"The worst thing a candidate can do in their cover letter is make it all about themselves and what they're looking for. The best thing to do is focus on why they'll be a great fit, how they'll make a contribution and what they've done, or will do, to support this." – Ian Yates, co-founder and managing director, Fitzii

Bad-mouthing your old boss

"Saying anything negative in your cover letter will not help your chances of landing a job. For example, saying that you're looking for a new opportunity because your previous employer was unfair or you had an incompetent boss will only make you look bad. Oftentimes, if this type of negative information is in the cover letter, recruiters won't even look at the résumé." – Tracey Russell, recruiter, Naviga Business Services

Including a head shot

"The absolute worst thing candidates can put on their cover letter is a head shot. I know this is going to come as a shock to some of the more photogenic people out there — especially people coming from careers as Realtors or bankers, where it's normal to include a studio-quality photo on the corner of all written correspondence — but it's really tacky on cover letters." – Tyson Spring, senior consultant, business development, Elever Professional

Disclosing your objective

"The worst thing a candidate can include in their cover letter is an objective. If the objective does not perfectly align with the company's objective, they will immediately stop reading and move on to the next person." – Nina Parr, co-founder and CMO, The Love Your Job Project

Underselling yourself

"The very worst and mind-boggling mistake that candidates make is to deliberately undersell themselves. Candidates will write stuff like, 'I'm probably not the best candidate...' or, 'You probably have many more qualified candidates lined up…' and other similar self-defeating phrases." – Mark Slack, résumé consultant and career adviser, Resume Genius

Using clichés

"Don't use buzzwords. Including descriptors such as 'detail-oriented,' 'hardworking,' 'team player' and 'proactive' don't tell HR managers anything about your experience. Anyone can write those words for the sake of including them." – Bob Kovalsky, senior vice president, Adecco Staffing

Getting too personal

"I think the worst thing I have seen is when there is excessive oversharing in a cover letter. This is usually along the lines of, 'My spouse left me and I never finished school, and I have to raise my two kids.' Other turnoffs include age, religion and more. To most of us, these topics are naturally off-limits, but every now and then, one of these crosses my desk." – Lisa McAteer, recruitment consultant, McNeill Nakamoto Recruitment Group

Being arrogant

"[The worst thing] is a candidate overselling him or herself, or being boastful about accomplishments and strengths. It is a fine line between confident and arrogant. Have someone objective proofread your cover letter!" – Sue Hardek, managing partner, Sue Hardek & Associates

Why Narcissists Make Good CEOs

Though they might not do much for employee morale, narcissistic CEOs can do wonders for companies' bottom lines, new research finds.

Narcissism, considered by many to be a negative personality trait in executives, mayactually be a good thing when it comes to certain financial measures, according to a study published recently in The Journal of Management Accounting Research. Specifically, companies led by narcissistic CEOs reported higher earnings per share and share price than those with non-narcissistic CEOs.

However, being led by a narcissist isn't totally beneficial for a company's financial well-being. The research discovered that the methods such CEOs may employ to boost these indicators of financial soundness can jeopardize the long-term health of their organizations.

Mark Young, one of the study's authors and an accounting professor at the University of Southern California's Marshall School of Business, said that certain characteristics of narcissists — such as being charismatic, innovative, risk-taking and committed to action — can make them successful leaders.

"These qualities could be critical factors in helping their companies succeed and have higher [earnings per share] and stock price," Young said in a statement. "But when other facets of narcissism, such as vanity and exhibitionism, are present, a positive impact is less likely."

As part of the study, researchers studied the accounting-related outcomes of 283 CEOs from 235 different Fortune 500 firms from 1992 to 2009. Narcissistic CEOs were identified through a composite score based on the size and composition of the CEO's photograph in the annual report and the CEO's relative and non-relative cash pay benefits to that of the next-highest company executive. The more prominent the photo and the greater the discrepancy in benefits, the more strongly the CEOs were identified as narcissistic leaders.

The study's authors analyzed the relationship between CEO narcissism and earnings per share, the company's most visible accounting number, and share price, to which CEO compensation usually is tied. They discovered that companies headed by narcissistic CEOs had higher earnings per share after controlling for factors related to the CEO, firm and industry.

Young said narcissistic CEOs make operational decisions such as lenient credit terms, sales discounts and overproduction that, in the short term, boost earnings.

"However, this behavior can be detrimental to a company in the long term," he said. "Our research shows a positive impact of higher earnings per share and stock price, but that 'positive' may come at a high cost."

The study was co-authored by Kari Joseph Olsen, a USC doctoral student of accounting, and Kelsey Kay Dworkis, an accounting professor at the University of Melbourne in Australia.

When Customer Loyalty Isn't Enough, Turn to Word-of-Mouth

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There's no question that customer loyalty matters. According to a recent survey by digital business solutions provider Huzzah Media, repeat customers and word-of-mouth referrals are the best sources of revenue for 80 percent of small businesses. But are you focusing enough on the latter to sustain business growth?

While investing in remarketing campaigns and loyalty programs is certainly a good strategy, you need to place just as much emphasis on capturing the customers you don't have yet, and these prospective customers are often obtained by word of mouth, experts say.

"In today's always-on world, consumers are constantly talking about their personal experiences with stores, brands or products, and they make a big impact on whether they will shop with you in the future," said Lance Brown, vice president of product development at Huzzah Media. "Personal anecdotes are generally what resonate with new customers, since direct feedback is viewed as more reliable. Businesses that implement a referral program are encouraging their customers to 'share the love' and, therefore, can help drive more business."

When it comes to acquiring new customers, it seems fairly obvious that reaching out to a word-of-mouth referral — especially via social media — is easier than chasing down brand-new leads.

"The average Facebook user has 150 friends, and the average millennial has 200 to 500 friends on Facebook," said Sastry Penumarthy, co-founder of mobile customer relationship management company Punchh. "Friends are more likely to not only purchase from brands their friends have recommended, but also to keep coming back. So when the right rewards are in place for loyal customers to spread the word using social media, email addresses, phone contacts, etc., the ROI of referrals-based campaigns tends to be far more cost-effective than traditional marketing campaigns to reach new potential customers."

Brown and Penumarthy shared their best advice for encouraging word-of-mouth referrals from existing customers, and turning those referrals into loyal customers themselves.

Focus on the customer experience

No matter what product or service you provide, your top priority should be to ensure that your customers have a great experience with your brand. Customer loyalty — and, by extension, referrals — will follow naturally from there.

"Customers who have positive experiences become loyal customers," Penumarthy said. "Loyal customers are more likely to spread the word of mouth about their favorite brands and also refer their friends. So, to encourage word-of-mouth referrals, brands need to focus on positive customer experiences."

Offer rewards for referrals

Customer loyalty programs are often based on a system of rewards for making purchases. Offering customers an additional incentive for referring a friend is a simple but effective way to capture the potential word-of-mouth market.

"Give a specific discount or offer to both parties," Brown told Business News Daily. "This incentivizes your regular customer to talk to their friends about your business or service, and their friend a reason to shop with that business."

Listen to feedback

In today's world of instant communication and social media updates, customers are more likely than ever to post about a brand experience and share it will their followers across their various networks, whether it's good or bad. Keep a close eye on what customers are saying about your brand so you can respond appropriately.

"It is crucial for brands to listen to and address customer feedback, so that when they have a bad customer experience, the right action is taken to rectify their experience or to compensate them appropriately," Penumarthy said. "At the same time, consumers are also equally likely to share a positive customer experience. This approach typically starts a virtuous cycle."

Correction: An earlier version of this article incorrectly spelled Sastry Penumarthy's last name as Panumarthy.

First Small Business Loan? 7 Things to Consider

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Is this your first time venturing into the small business loan frontier? Obtaining a small business loan is just one of the first steps to launching your business. Proper financial planning, however, is critical to your success.

There are two key things to keep in mind as a small business loan first-timer. If you're seeking a small business loan, the way you present your business idea, business plan and financial forecasts can be the difference between gaining or not gaining investors' or a bank's approval. But once you do get a business loan, how you manage your operations and where those funds go can make or break your entire business.

From creating a budget to managing costs, there are several steps you can take to make the most out of obtaining and managing small business loans. Holly Nicholas Signorelli, a certified financial planner and CPA, advises aspiring entrepreneurs and small business owners to maintain realistic expectations. Based on more than 20 years' experience, Signorelli shared the following do's and don'ts of first-time small business loans.

1. Do create a real budget.

About 90 percent of the time, clients come in with a huge budget made up of millions of dollars in profits, Signorelli said. But when you start to go through the line items, there isn't any real backup to substantiate the numbers. Instead, there is always some hype about the product, the market in general and, most of all, "the potential." Banks and investors don't want to buy your idea; they want to make a profit, Signorelli stressed. For them to believe in your idea, they have to believe there is a profit. With very few exceptions, they are not going to invest in your idea if it doesn't make sense, or if it feels too good to be true, Signorelli said.

2. Do have budget references.

Make sure that every single line item has a reference behind it, Signorelli said. "Real figures, real research — get down and dirty on it," she said. "For example, if you are providing a service and your budget states that you can sustain XX amount of customers per month at XX amount of dollars, then the price of the service will be easy to show, given the average price of that service in your geographic area," Signorelli said. However, you need to back up why the customers would come to you versus the competition. "That's 'down and dirty,' and you can't get too detailed; keep it short and to the point with backup," Signorelli said. "Think about it: When you are reading a budget, you don't want someone rambling about their pipe dream. You want to know that the person understands what it's going to take to make a profit and has a clear plan to bring in business." In other words, you want details, but you want them to be short and concise.

3. Don't overestimate your income.

"In 20 years, I have never seen a budget where the income was as high as predicted in the first year," Signorelli said. This is critical, because the lack of income in the first year is what causes 80 percent of small businesses to go out of business, she said. "Once your budget is done, go back to it and reduce your income 25 to 50 percent less than what your due diligence led you to put on the report," Signorelli advised.

 

4. Don't underestimate your expenses.

"There are things that you underestimated, no matter how meticulous you were, and there are things that you forgot altogether," Signorelli said. "Just like income, you need to go back to your budget and take your expenses and increase them by 25 to 50 percent."

5. Do have extra funds.

As a small business owner, it's critical that you have enough savings, to make sure you can pay your bills during the first year, Signorelli said. "It was hard enough to get your loan, but I promise you that six months into when you are not profitable, no one will want to loan you more money to get you though the next six months," she said.

6. Don't stress about finances.

To make it through the first year and build a profit, you want to focus on marketing and bringing business in, so you don't need to stress about finances, Signorelli said. Manifesting and building a business requires you, the owner, to believe in yourself and your new small business. With the right budget, you will get the right amount of money from the right investor, giving you the freedom and confidence to focus on your dream and make it happen, Signorelli said.

7. Do learn from your mistakes.

Yes, it's OK that you made mistakes, as long as you learned lessons from them.

"I worked for a great CPA right out of college for five years to learn all I needed to know to run a business," Signorelli said. "I still made mistakes in the first few years, but the foundation had been set and above all else, it was not an option for it not to succeed. It was my life, and whatever you are taking on must be your dream that you will move heaven and earth to make happen."

Gmail App Update Makes It Easier to Share Files

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The new Gmail mobile app is making it easier for you to get work done while you're on the go.

Updates by Google to both the iOS and Android Gmail apps have made them better integrated with Google Drive. This integration is allowing businesses and their employees to easily share files wherever they are.

"Just like with Gmail on the Web, you can now insert files from Google Drive directly into an email on your phone or tablet," Simon Forsyth, a software engineer for Gmail, wrote on the company's blog. "The apps will even tell you if your file isn't shared with the person you're sending it to, so you can change the sharing settings before you send it."

Additionally, to make it easier for users to store their files all in one place, the updated app allows files that are sent as an email attachment to be saved directly to a Google Drive account, with just one tap. The updated Gmail app also allows users to change their profile picture right from the Settings tab.

"Lastly, if you have multiple Gmail accounts, you can choose which signed-in accounts you want visible in the app," Forsyth wrote.

To take advantage of the new features, iOS users can download the updated Gmail app from the App Store, while Android users can get the latest version of the app from the Google Play Store.

Time to Refresh? 3 Tips for Updating Your Logo

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To make a strong first impression on consumers, businesses need an impactful logo.

Despite the importance of a logo, businesses with just a handful of employees often struggle to design a memorable one with their limited budgets.

A new study from Endurance International Group, a cloud-based platform solutions provider, discovered that 15 percent of small businesses with five employees or less have no logo at all, with 56 percent of businesses having designed their own logos without any professional help.

"A standout logo and impressive Web presence are important parts of building a brand even at the very early stages of building a business," Michael Kesselman, executive vice president of innovation and strategy at Endurance, said in a statement.

The research revealed that more than a quarter of small businesses are planning on changing their logo in the next few months, Kesselman said when thinking about logo design, it's best to keep it simple.

"Small business owners should choose a design that has staying power, but it's important to be open to small iterations over time," he said. "Brands may need to refresh their logo as the company evolves, expands, and takes on new audiences – just don't lose sight of what makes your brand recognizable – whether it’s a signature color or graphical element."

To help small businesses refresh their logo, Endurance offers several tips.

• Ask your audience. Social media makes it easy to communicate directly with customers. Engage customers in the process by asking for input and even allowing them to judge potential designs.
• Keep it simple. A complete brand overhaul may alienate customers, so less is more when it comes to a refresh. Focus on one or two elements and make subtle changes.
• Communicate the change. To avoid confusion, the refresh should be consistent at every touch point for customers. Ensure a seamless experience by communicating the change with employees and updating marketing materials.

The study was based on surveys of 491 small businesses with fewer than five employees.

10 Comic-Con Inspired Career Lessons

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This weekend, thousands of fans of all sorts traveled to California to attend San Diego Comic-Con International. Artists, authors, experts and actors were there, ready to answer questions, announce upcoming projects, meet fans and sign autographs. But Comic-Con is so much more than just a fun convention for fans – it can help your career, too.

Comic-Con has a unique atmosphere that, when you step back and take it all in, can really teach you a lot about life and business. Here are 10 career lessons you can take away from Comic-Con.

1. Be prepared

Comic-Con attendees often spend months and months designing and creating their cosplay costumes to make sure everything is just right come the big day. You may not be making intricate costumes in your career, but the lesson still stands: preparation is important. Whether you're going to a job interview, leading an important business meeting, or about to make a big sales pitch, it's important to be adequately prepared. Do your research, practice your presentation, know what you're talking about, and you might just impress everyone. 

2. Show up early

Showing up late to the panels you want to attend at Comic-Con is a surefire way to  you miss out, and the same goes for your career. Always aim to be a few minutes early, especially for interviews of any kind. Not arriving on time is one of the best ways to lose out on a career opportunity. 

3. Be your best self

Comic-Con is an opportunity for many fans to show off parts of themselves they ordinarily wouldn't, be it through cosplay or simply embracing and sharing what they're interested in. The lesson here is to be yourself, and be confident about it. In your career, knowing what you like and what you want and having the confidence to show others what you have to offer can get you ahead. 

4. Creativity is key

That said, the way to stand out in a sea of cosplaying Comic-Con attendees is to be creative, and that goes for the workplace, too. Just like cosplayers find ways to embody their favorite characters, you should find ways to put your own spin on your work. Find an untapped angle to a project or a unique and creative solution to a problem, and you're sure to be noticed.

5. Show your enthusiasm

At events like Comic-Con, everyone is excited and passionate about what's going on around them. Be that person in the workplace, too, and you'll earn a lot of respect from your managers and co-workers. If you come into the office with a negative attitude, you'll bring everyone down. Being positive, on the other hand, can create a more welcoming and productive work environment. It's all about having the right attitude.

6. Prioritize

There are always a lot of things to do and see at Comic-Con, and it can be overwhelming. When you're attending huge events like that, it's important to prioritize and ask yourself what you absolutely have to see, what you don't mind missing out on, and everything in between. The same goes for your work – when you're overwhelmed with tasks, take a step back and plan out what you need to get done immediately, what comes next, and what can wait until tomorrow.

7. Take risks

Having a game plan is important, but one of the best parts of Comic-Con is the opportunity to take risks. Those risks can be anything from wearing an attention-grabbing costume to introducing yourself to a celebrity you admire. In business, those risks are very different, but the lesson still stands. Have the confidence to do something risky, like applying for a job that's a little out of your league, taking on a challenging project or even asking for a promotion.

8. Market yourself

Comic-Con isn't just about people coming together to appreciate their shared interests. It's about marketing, and a lot of it. At Comic-Con, movie trailers and TV teasers are released and vendors have booths everywhere. What Comic-Con does right, however, is that you don't see it as a marketing ploy – you see it as an amazing event, and that's exactly how job applicants and employees should market themselves. Promote your skills and talents, but find balance and be genuine as well.

9. Network, network, network

A huge part of Comic-Con is meeting new people with similar interests, and that's exactly what you should be doing as a professional, too. Networking is important, so take advantage of work events and situations where you can meet like-minded people and grow your list of business contacts. Just make sure you're making quality connections and not just passing out business cards.

10. Put judgment aside

The best part about Comic-Con is that nobody is judging anyone else. It doesn't matter if you come in costume or not, what fandom you're part of, or what you're there to see, because everyone is just there to have fun and enjoy the experience. This is important to remember when dealing with co-workers, too. No matter where you work, you will meet people who you may not like or get along with. Put your judgment about them aside and find a way to enjoy your office time anyway, or your personal issues will get in the way of your work.

Is Your Corporate Language Hurting Your Brand?

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Corporate content is everywhere nowadays. Whether it's website copy, blog posts, tweets or emails, digital communications represent your company to the online world, and are an important component of its branding strategy. But if your corporate language is too unclear, it may be doing your brand more harm than good.

"The base level that brands need to get to [in their communications] is simplifying their language and making it more human," said Anelia Varela, U.S. director of The Writer, a firm that provides writing services and training for organizations. "This means speaking to people on their level. Once you've simplified, [figure out] how to make that language your own and stand out against competitors."

No matter what industry you're in, you should aim to have your corporate voice be clear, concise and distinct, Varela said. She offered the following tips to help brands improve their corporate communication strategy.

Define your voice. Today's brands are expected to communicate with customers through a wide range of channels. Even in smaller companies, it's likely that more than one person is responsible for writing and sending out this official corporate content. Identifying and defining an authentic brand voice will ensure that all communications are consistent, no matter who's creating them.

"More people than ever are creating content on behalf of brands," Varela said. "It can become a cacophony if everyone's not using the same voice. It needs to be second nature to them, and it's worth making sure they get the training and support they need to make that happen."

Avoid industry jargon. Every industry has its own specialized terms, especially in the rapidly growing tech sector. While using "technospeak" (or your industry's language) is fine for internal messages, the use of jargon in your newsletters, Web pages, social media posts and other communications meant for customers will likely only confuse them.

"Think about your audience as if you're speaking with them [in person]," Varela told Business News Daily. "Brand communication is about creating a conversation with customers. You're not going to get far if you use corporate speak."

Learn from social media. Varela noted that companies often try to figure out how to apply their brand voice to social media. In some cases, it's actually more beneficial to work backward and look at it from the opposite perspective.

"We should be asking what we can learn from social media," she said. "People write more like they speak on blogs, Facebook, etc. It's clear and concise. It's a good lesson to be applied to everything else."